Amundi Reduces Holdings in Hecla Mining Company $HL

Key Points

• Amundi cut its Hecla Mining stake by 19.2% in the first quarter, selling 375,913 shares and retaining 1.58 million shares valued at approximately $29.5 million. Institutional investors collectively own 63.01% of the company.
• Hecla Mining reported 57.4% year-over-year revenue growth to $411.43 million, though quarterly EPS of $0.24 fell short of the $0.27 analyst estimate.
• Analyst sentiment remains cautious: the stock has an overall “Hold” rating with a consensus price target of $24.12, while several firms recently lowered targets despite two analysts maintaining Buy ratings.

Amundi decreased its holdings in shares of Hecla Mining Company (NYSE:HL - Free Report) by 19.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,583,332 shares of the basic materials company's stock after selling 375,913 shares during the quarter. Amundi owned about 0.24% of Hecla Mining worth $29,497,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. U S Global Investors Inc. purchased a new stake in shares of Hecla Mining in the 1st quarter valued at $1,397,000. Geode Capital Management LLC increased its position in shares of Hecla Mining by 11.9% during the fourth quarter. Geode Capital Management LLC now owns 16,620,647 shares of the basic materials company's stock worth $319,000,000 after acquiring an additional 1,770,949 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of Hecla Mining in the fourth quarter valued at $88,417,000. Sigma Planning Corp raised its stake in shares of Hecla Mining by 395.4% in the first quarter. Sigma Planning Corp now owns 107,229 shares of the basic materials company's stock valued at $1,998,000 after acquiring an additional 85,583 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Hecla Mining by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 4,689,144 shares of the basic materials company's stock valued at $87,359,000 after purchasing an additional 112,962 shares during the period. Hedge funds and other institutional investors own 63.01% of the company's stock.

Hecla Mining Trading Up 2.5%

Shares of Hecla Mining stock opened at $14.47 on Tuesday. The company has a 50-day moving average of $15.61 and a two-hundred day moving average of $19.14. The company has a current ratio of 4.94, a quick ratio of 4.53 and a debt-to-equity ratio of 0.10. The stock has a market cap of $9.71 billion, a PE ratio of 35.31 and a beta of 1.32. Hecla Mining Company has a 12-month low of $5.76 and a 12-month high of $34.17.

Hecla Mining (NYSE:HL - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.03). Hecla Mining had a return on equity of 16.89% and a net margin of 17.41%.The business had revenue of $411.43 million for the quarter, compared to analysts' expectations of $407.63 million. During the same period last year, the business earned $0.04 earnings per share. The company's revenue for the quarter was up 57.4% on a year-over-year basis. On average, research analysts anticipate that Hecla Mining Company will post 0.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on HL shares. Wall Street Zen cut Hecla Mining from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Scotiabank decreased their price target on Hecla Mining from $25.00 to $21.00 and set a "sector perform" rating for the company in a report on Tuesday, July 14th. Zacks Research upgraded Hecla Mining to a "hold" rating in a report on Friday, July 17th. Weiss Ratings downgraded shares of Hecla Mining from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, June 5th. Finally, HC Wainwright cut their price target on Hecla Mining from $36.50 to $26.75 and set a "buy" rating on the stock in a research report on Wednesday, May 6th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $24.12.

Hecla Mining Profile

Hecla Mining Company, founded in 1891 and headquartered in Coeur d'Alene, Idaho, is one of the oldest publicly traded precious metals companies in the United States. Originally established to develop the rich silver deposits of the Coeur d'Alene district, Hecla has evolved into a diversified mining enterprise focused on the exploration, development and production of silver and gold, with by-product credits from lead and zinc.

The company's principal operations are located in North America and Latin America.

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